Ichimoku cloud indicator analysis on EURUSD for June 30th, 2023.
June 30, 2023 4:22 pm
EURUSD is trading around 1.0913 still above the Daily Kumo (cloud). Trend according to the Ichimoku cloud indicator in the Daily chart remains bullish. Price was under pressure for two days. Yesterday price closed inside the Kumo and below the tenkan-sen (red line indicator) providing an important warning to bulls. Today price is bouncing off cloud support challenging the resistance by the tenkan-sen at 1.0923. The kijun-sen (yellow line indicator) provides support at 1.0823. The Chikou span (black line indicator) remains above the candlestick pattern (bullish). Yesterdays close was a warning turning trend to neutral. Today’s bounce and close above the cloud turns trend bullish again. So far price seems to be sliding down the upper cloud boundary but not having any bearish follow through after days it closed inside the cloud. The decisive level for bulls and bears is the support by the kijun-sen and the lower cloud boundary around 1.0820-1.08. A break below that level will definitely put bears in control of the Daily trend.
The material has been provided by InstaForex Company – www.instaforex.com
EURUSD is trading around 1.0913 still above the Daily Kumo (cloud). Trend according to the Ichimoku cloud indicator in the Daily chart remains bullish. Price was under pressure for two days. Yesterday price closed inside the Kumo and below the tenkan-sen (red line indicator) providing an important warning to bulls. Today price is bouncing off cloud support challenging the resistance by the tenkan-sen at 1.0923. The kijun-sen (yellow line indicator) provides support at 1.0823. The Chikou span (black line indicator) remains above the candlestick pattern (bullish). Yesterdays close was a warning turning trend to neutral. Today’s bounce and close above the cloud turns trend bullish again. So far price seems to be sliding down the upper cloud boundary but not having any bearish follow through after days it closed inside the cloud. The decisive level for bulls and bears is the support by the kijun-sen and the lower cloud boundary around 1.0820-1.08. A break below that level will definitely put bears in control of the Daily trend.
The material has been provided by InstaForex Company – www.instaforex.com
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